Retirement Age

age at which employees no longer work. Though there is no longer any mandatory retirement age, many institutions do impose a retirement age. The federal government has a retirement age of 70. Many corporations have a retirement age of 65, although this has become more flexible and is no longer standard. Employees reaching age 62 may start to receive Social Security benefits, though the minimum age for receiving full Social Security benefits starts at age 65 and is gradually increasing to age 67. For example, for those born from 1943 through 1954, the age to receive full Social Security benefits is 66. For those born in 1960 or later, the age for full benefits rises to 67.

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